Turkey's external assets rose 1.1 percent in January to reach $217.2 billion, compared to the end of last year, the Central Bank of Turkey (CBRT) said Friday. However, the country's liabilities against nonresidents also climbed 0.9 percent to reach $575.9 billion. Turkey's Net International Investment Position (NIIP) stood at -$358.7 billion in January, compared to -$356 billion at the end of 2016.
The NIIP is a nation's stock of foreign assets minus its foreign liabilities as well as the value of overseas assets owned by a country minus the value of foreign-owned domestic assets. "As regards to subitems under assets, at the end of January 2017, reserve assets recorded $106.4 billion, indicating an increase of 0.3 percent, and other investment recorded $70.9 billion, indicating an increase of 2.7 percent compared to the end of 2016," the bank said.
As for subitems under liabilities, direct investment rose by 1.8 percent to $135.6 billion in January compared to the end of last year due to changes in the market value and foreign exchange rates. Turkish nonresidents' equity holdings totaled $37 billion, indicating an increase of 4.1 percent in the same period.
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